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Dec 28, 2012
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meet with leaders tomorrow as the clock ticks towards the fiscal cliff. the president returned to washington, d.c. this morning. he was called to pass a scaled back agreement to keep taxes from going up. the senate went back into session today. leaders accused each other of standing in the way of a deal. >> you can't legislate with yourself. we have nobody to work with. compromise. >> republicans aren't about to write a blank check just because we find ourselves at the edge of the cliff. >> the house will convene on sunday. republicans already refused to take a vote on speaker of the house john speaker of the house john boehner's plan. with no deal in the works you are likely to see a smaller pay check. ktvu's consumer editor tom vacar joins us to detail what it will cost taxpayers. >> reporter: indeed, more than a cliff for some. >> reporter: for more and more americans, the fiscal cliff is being viewed as a failure of government. >> they are on vacation, doing whatever they are doing. they don't care. >> i just don't think they will ever come to an agre
meet with leaders tomorrow as the clock ticks towards the fiscal cliff. the president returned to washington, d.c. this morning. he was called to pass a scaled back agreement to keep taxes from going up. the senate went back into session today. leaders accused each other of standing in the way of a deal. >> you can't legislate with yourself. we have nobody to work with. compromise. >> republicans aren't about to write a blank check just because we find ourselves at the edge of the...
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Dec 29, 2012
12/12
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. >>> you've heard about the fiscal cliff but what about the dairy cliff. how washington gridlock could drive up the price of milk. >> protecting you from drunk drivers. >> but we need to do more to save lives. >> the device one lawmakers wants to use to stop repeat offenders and why critics say it is impractical. >> and chief meteorologist bill martin will be back with your weekend and holiday forecast. >>> federal tax cuts aren't all that's expiring on january 1st so is the farm bill. that means that milk prices could double. debora villalon is live to explain. >> reporter: this sunday sets you back $6, $12 probably too rich. this family with a sweet tooth is sour on the idea of higher milk prices. >> we go to about 2-gallons of milk a week. >> reporter: but if lawmakers don't extend the tax bill it reverts to 1949 law when the government not the market controlled prices and the dairy industry wasn't nearly as efficient as today. under those antiquated formulas a gallon of milk now under $4 most places could rise to $6 even $8 retail. >> you think about t
. >>> you've heard about the fiscal cliff but what about the dairy cliff. how washington gridlock could drive up the price of milk. >> protecting you from drunk drivers. >> but we need to do more to save lives. >> the device one lawmakers wants to use to stop repeat offenders and why critics say it is impractical. >> and chief meteorologist bill martin will be back with your weekend and holiday forecast. >>> federal tax cuts aren't all that's expiring...
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Dec 29, 2012
12/12
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. >>> you've heard about the fiscal cliff but what about the dairy cliff. how washington gridlock could drive up the price of milk. >> protecting you from drunk drivers. >> but we need to do more to save lives. >> the device >>> federal tax cuts aren't all that's expiring on january 1st so is the farm bill. that means that milk prices could double. debora villalon is live to explain. >> reporter: this sunday sets you back $6, $12 probably too rich. this family with a sweet tooth is sour on the idea of higher milk prices. >> we go to about 2-gallons of milk a week. >> reporter: but if lawmakers don't extend the tax bill it reverts to 1949 law when the government not the market controlled prices and the dairy industry wasn't nearly as efficient as today. under those antiquated formulas a gallon of milk now under $4 most places could rise to $6 even $8 retail. >> you think about the fiscal cliff and they talk about, okay we're going to get a deal done and it might not be perfect. but you definitely don't expect the price of milk to double. >> the risk of this
. >>> you've heard about the fiscal cliff but what about the dairy cliff. how washington gridlock could drive up the price of milk. >> protecting you from drunk drivers. >> but we need to do more to save lives. >> the device >>> federal tax cuts aren't all that's expiring on january 1st so is the farm bill. that means that milk prices could double. debora villalon is live to explain. >> reporter: this sunday sets you back $6, $12 probably too rich. this...
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Dec 28, 2012
12/12
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the fiscal cliffs will hit all americans with much higher taxes and that could lead to an over all u.s. economic downturn. that in term could derail in of the benefits prop 30 may have meant for the state. >> i don't know there's a word to describe how the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody, it's not going to be a happy time. but i think that's what's inevitably going to happen. >> reporter: average earnings will see 4%, top earners about 6%. that says nothing of lost deductions or other unknowns such as deduction driven pay cuts, lay offs and over all decreased economic development. >> we're going to be very angry. if you're on top, you're on top. but if you're in the middle of the bottom you're really going to be affected by this. >> reporter: now add unemployment benefits that are going to be cut off. >> i make that american politics tend to hurt the american people. >> reporter: fact is no one will be exempt. tom vacar. ktvu news. >>> americans are buying new homes at the fastest pace in more than 2-1/2 years. that'
the fiscal cliffs will hit all americans with much higher taxes and that could lead to an over all u.s. economic downturn. that in term could derail in of the benefits prop 30 may have meant for the state. >> i don't know there's a word to describe how the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody, it's not going to be a happy time. but i think that's what's inevitably going to happen. >> reporter: average earnings...